Covestor Ltd Lowers Stock Position in Rayonier Advanced Materials Inc. (NYSE:RYAM)

Covestor Ltd lowered its position in Rayonier Advanced Materials Inc. (NYSE:RYAM) by 26.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,697 shares of the basic materials company’s stock after selling 2,371 shares during the period. Covestor Ltd’s holdings in Rayonier Advanced Materials were worth $57,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RYAM. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Rayonier Advanced Materials during the first quarter worth about $159,000. BNP Paribas Financial Markets increased its holdings in Rayonier Advanced Materials by 319.8% during the first quarter. BNP Paribas Financial Markets now owns 69,950 shares of the basic materials company’s stock worth $334,000 after buying an additional 53,288 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Rayonier Advanced Materials by 471.8% during the first quarter. Russell Investments Group Ltd. now owns 1,997,437 shares of the basic materials company’s stock worth $9,548,000 after buying an additional 1,648,101 shares during the last quarter. Vanguard Group Inc. increased its holdings in Rayonier Advanced Materials by 0.9% during the first quarter. Vanguard Group Inc. now owns 3,417,106 shares of the basic materials company’s stock worth $16,334,000 after buying an additional 31,281 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Rayonier Advanced Materials in the first quarter worth about $100,000. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Analyst Upgrades and Downgrades

RYAM has been the subject of several recent research reports. StockNews.com downgraded shares of Rayonier Advanced Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lifted their target price on shares of Rayonier Advanced Materials from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

Rayonier Advanced Materials Price Performance

RYAM opened at $9.34 on Friday. The company has a market capitalization of $615.69 million, a price-to-earnings ratio of -7.45 and a beta of 3.01. The company has a quick ratio of 1.09, a current ratio of 1.73 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average price of $8.30 and a 200-day moving average price of $6.71. Rayonier Advanced Materials Inc. has a twelve month low of $3.02 and a twelve month high of $10.28.

Rayonier Advanced Materials (NYSE:RYAM) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. The company had revenue of $401.00 million during the quarter, compared to analyst estimates of $412.20 million. Rayonier Advanced Materials had a negative net margin of 5.21% and a negative return on equity of 1.61%. During the same period last year, the business earned ($0.41) earnings per share. Equities analysts expect that Rayonier Advanced Materials Inc. will post -0.08 EPS for the current year.

Rayonier Advanced Materials Company Profile

Rayonier Advanced Materials Inc manufactures and sells cellulose specialty products in the United States, China, Latin America, Canada, Japan, Europe, Latin America, other Asian countries, and internationally. It operates through High Purity Cellulose, Paperboard, and High-Yield Pulp segments. The company’s products include cellulose specialties, which are natural polymers that are used as raw materials to manufacture a range of consumer-oriented products, such as liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, cigarette filters, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints, and lacquers.